ECPN Transfers 2,000 Acres to Wholly-Owned Subsidiary with Goal of Potential
Shareholder Dividends
Business Wire
SCOTTSDALE, Ariz. -- December 20, 2012
El Capitan Precious Metals, Inc. (OTC/BB: ECPN) announced today that it is
transferring 2,000 acres to its wholly-owned subsidiary, ECPN Technologies.
The 2,000 acres of land is adjacent to the 250-acre El Capitan property in New
Mexico with 141 million tons of measured resources.
ECPN Technologies has mineral rights on 720 acres of leased BLM (Bureau of
Land Management) land and mineral rights on an additional 240 acres of
patented land.
In addition, according to El Capitan CEO Chuck Mottley, the Company is
currently seeking permits to allow the drilling of approximately 100
exploration drill holes on the 2,000 acres.
Mottley confirmed that the 250-acre El Capitan property will remain with the
parent Company, El Capitan Precious Metals, Inc., and stated that the purpose
of this transfer is to provide flexibility, allowing for the ability to spin
off the subsidiary to the ECPN shareholders in the form of a stock dividend
when appropriate.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is an exploration stage precious minerals
company based in Scottsdale, Arizona that is principally engaged in the
exploration of precious metals and other minerals. The Company’s primary asset
is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which
holds the 100% equity interest in the El Capitan property located near
Capitan, New Mexico.
www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of
economic performance and management’s plans and objectives constitute
forward-looking statements made pursuant to the safe harbor provisions of
Section 21E of the Securities Exchange Act of 1934, as amended, and Section
27A of the Securities Act of 1933, as amended. Forward-looking statements are
statements that are not historical facts. Words such as “expect(s),”
“feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar
expressions are intended to identify forward-looking statements. These
statements include, but are not limited to, statements regarding the expected
completion, timing and results of metallurgical testing, interpretation of
drill results, the geology, grade and continuity of mineral deposits, results
of initial feasibility, pre-feasibility and feasibility studies and
expectations with respect to the engaging in strategic transactions. All of
such statements are subject to risks and uncertainties, many of which are
difficult to predict and generally beyond the control of the Company, that
could cause actual results to differ materially from those expressed in, or
implied or projected by, the forward-looking information and statements.
Specifically, there can be no assurance regarding the timing and terms of any
transaction involving the Company or its El Capitan property, or that such a
transaction will be completed at all. In addition, there can be no assurance
that periodic updates to the Company’s geological technical reports will
support the Company’s prior claims regarding the metallurgical value and
make-up of the ore on the New Mexico property. Additional risks and
uncertainties affecting the Company include, but are not limited to, the
possibility that future exploration, development, testing or mining results
will not be consistent with past results and/or the Company’s expectations;
discrepancies between different types of testing methods, some or all of which
may not be industry standard; the ability to mine precious and other minerals
on a cost effective basis; the Company’s ability to successfully complete
contracts for the sale of its products; fluctuations in world market prices
for the Company’s products; the Company’s ability to obtain and maintain
regulatory approvals; the Company’s ability to obtain financing for continued
operations and/or the commencement of mining activities on satisfactory terms;
the Company’s ability to enter into and meet all the conditions to consummate
contracts to sell its mining properties that it chooses to list for sale; and
other risks and uncertainties described in the Company’s filings from time to
time with the Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on these forward-looking statements that speak only as of
the date hereof, and we do not undertake any obligation to revise and
disseminate forward-looking statements to reflect events or circumstances
after the date hereof, or to reflect the occurrence of or non-occurrence of
any events.
Contact:
TEN Associates, LLC
Tom Nelson, 480-232-5469